Trump expected to nominate Powell to lead Fed

Markets look to begin the day in the red. Meanwhile, investors are keeping a close eye on Washington. The president is expected to officially nominate Jerome Powell to lead the Federal Reserve, as the GOP is scheduled to unveil the new tax bill. Yahoo Finance’s Alexis Christoforous, Editor-in-Chief Andy Serwer, Nicole Sinclair and Melody Hahm discuss the big stories of the day.